SUDDENLY, THE SUPPLY AND DEMAND CHARACTERISTICS HAVE CHANGED. SIGNIFICANT DATA HISTORICALLY RELIED UPON HAS BEEN TEMPORARILY RENDERED INEFFECTIVE. HOTEL CLOSINGS WHETHER PERMANENT OR TEMPORARY HAVE EFFECTED ESTIMATES OF SUPPLY. OCCUPANCIES AS LOW AS 15% HAS EFFECTIVE ESTIMATES OF DEMAND.
Historically, the scope of work and deliverables for studies performed by Dimond Hotel Consulting Group was designed individually to provide:
- A Site and location analysis
- A Market overview with an analysis and definition of market segments (guest profiles)
- An analysis of competitive facilities
- A five year historical trend analysis of the market and the competitive set
- Recommendations regarding the facilities and brand (if any) required to attract the targeted market segments
- A five-year forecast of operating results
WHILE DATA WILL ALWAYS BE A FACTOR IN MARKET & FEASIBILITY INITIATIVES, NOW MORE THAN EVER SOMEONE WHO KNOWS HOW TO INTERPRET AVAILABLE INFORMATION IS CRITICAL.